Tata Sons Ltd will acquire shares of Sir Dorabji Tata Trust, Lady Tata Memoral Trust and Sir Ratan Tata Trust.
Sanjay Dutt, chief of India arm of Singapore-based real estate developer Ascendas-Singbridge has been named MD of Tata Realty and Infrastructure.
The BSE-listed firm would be using the two funds to finance its new pipeline of affordable housing projects and also to build a sizeable commercial rental portfolio within the next five years.
The 2017 budget had proposed to assign infrastructure status to affordable housing projects and facilitate higher investments.
Last year, Piramal Enterprises had announced a $1 billion distressed asset investment platform in association with Bain Capital Credit.
Hotel deals, including mergers and acquisitions, are likely to pick up further in 2018.
Brigade is in the process of moving all its hotel assets into a separate unit. It is also seeking private equity investment in the new unity.
The first project, which is currently being built over 6 acres of land at Porur, in Chennai, would have 1.1 million sq. ft.
The overall development area of the township is around 24 million sq. ft.
The talks with Brookfield comes in after Rs2,400-crore deal with realty firm RMZ Corp. fell through last month